A century ago, the glow of electric light was a luxury, a symbol of prosperity and industrial might. In 1920, only half of American homes had electricity. Canada, Britain, and Germany weren’t far behind. Fast forward to today, and the appetite for electrons in these countries is plateauing—if not outright declining. Across the Pacific, the opposite trend is unfolding.

The world’s biggest energy consumers aren’t where they used to be.

The tapering titans: Per capita electricity consumption in the United States and Canada peaked around the time of the 2008 Financial Crisis. However, with their historically energy-intensive industries and sprawling cold climate, Canadians consume more than their southern neighbors. Germany, a powerhouse of European manufacturing, is actively working to reduce its consumption through aggressive efficiency policies. The UK, once at the heart of the Industrial Revolution, has seen its electricity demand per person fall nearly 20% since the early 2000s.

Eastern powers rising: China and India are on a very different trajectory. China’s per capita electricity consumption has doubled since the mid-2000s, driven by urbanization, manufacturing and an exploding middle class. India is following suit, albeit from a lower base.

The Global Reshuffling

This divergence is reshaping global energy markets. While Western nations are decoupling economic growth from electricity demand, emerging economies are scrambling to secure energy sources, balancing coal and gas with a rapid build-out of wind, solar and hydro.

Data source: US Energy Information Administration